Enova International (NYSE:ENVA) to Buy Back $500 million in Stock

Enova International (NYSE:ENVA) declared that its board has authorized a stock repurchase program on Tuesday, November 10th, RTT News reports. The company plans to buy back $500 million in outstanding shares. This buyback authorization permits the credit services provider to purchase up to 12.1% of its stock through open market purchases. Share buyback programs are usually a sign that the company’s board of directors believes its shares are undervalued.

Analysts Set New Price Targets

A number of research analysts recently issued reports on ENVA shares. Citizens Jmp boosted their price objective on shares of Enova International from $215.00 to $220.00 and gave the company a “market outperform” rating in a report on Friday, October 23rd. Weiss Ratings reiterated a “buy (b-)” rating on shares of Enova International in a report on Thursday, October 15th. TD Cowen increased their target price on shares of Enova International from $220.00 to $224.00 and gave the stock a “buy” rating in a report on Friday, October 23rd. Wall Street Zen cut shares of Enova International from a “strong-buy” rating to a “buy” rating in a research report on Saturday, August 22nd. Finally, Stephens lifted their price target on shares of Enova International from $215.00 to $225.00 and gave the stock an “overweight” rating in a research report on Friday, October 23rd. Eight equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat, Enova International currently has a consensus rating of “Moderate Buy” and an average price target of $239.00.

Enova International Stock Up 0.6%

Shares of NYSE ENVA traded up $1.03 during mid-day trading on Tuesday, reaching $169.37. 334,244 shares of the company’s stock were exchanged, compared to its average volume of 340,392. The firm has a market capitalization of $4.14 billion, a price-to-earnings ratio of 11.22 and a beta of 1.36. The company has a current ratio of 18.92, a quick ratio of 18.91 and a debt-to-equity ratio of 3.43. The business has a fifty day simple moving average of $183.86 and a 200 day simple moving average of $184.30. Enova International has a twelve month low of $119.02 and a twelve month high of $267.45.

Enova International (NYSE:ENVA) last released its quarterly earnings data on Thursday, October 22nd. The credit services provider reported $4.48 earnings per share for the quarter, beating the consensus estimate of $4.42 by $0.06. Enova International had a return on equity of 27.25% and a net margin of 10.47%. The business had revenue of $1.01 billion for the quarter, compared to analysts’ expectations of $1 billion. During the same quarter in the previous year, the business posted $3.36 EPS. Enova International’s revenue for the quarter was up 25.7% on a year-over-year basis. As a group, equities analysts expect that Enova International will post 16.32 EPS for the current fiscal year.

Insider Activity at Enova International

In other Enova International news, Chairman David Fisher sold 9,957 shares of Enova International stock in a transaction that occurred on Wednesday, October 28th. The shares were sold at an average price of $178.16, for a total value of $1,773,939.12. Following the transaction, the chairman owned 306,444 shares of the company’s stock, valued at approximately $54,596,063.04. The trade was a 3.15% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Steven E. Cunningham sold 15,305 shares of the company’s stock in a transaction that occurred on Tuesday, October 27th. The shares were sold at an average price of $172.00, for a total transaction of $2,632,460.00. Following the completion of the transaction, the chief executive officer owned 118,789 shares of the company’s stock, valued at $20,431,708. This trade represents a 11.41% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 115,758 shares of company stock valued at $21,490,436. Corporate insiders own 8.40% of the company’s stock.

About Enova International

Enova International is a financial technology company that provides online financial services to consumers and small businesses, with a focus on customers who may have limited access to traditional credit. Its products include installment loans and lines of credit. The company serves consumers through brands including CashNetUSA and NetCredit, and provides financing to small businesses through OnDeck and Headway Capital. Enova also uses data analytics and technology to support its lending and customer-service operations.